Best forex brokers in Namibia 2020

 

In Namibia, we are spoilt for choice, the best forex brokers in Namibia are easy to find.

There is a huge list of best forex brokers in Namibia from around the world and Namibian citizens can register and trade with all of them. However, forex traders are strongly advised to stick to brokers regulated by a high authority regulator such as the Financial Services Conduct Authority of South Africa (FSCA) previously known as the Financial Services Board (FSB).

Best forex brokers in Namibia; free below.

There are many countries with such regulatory bodies and the top forex trading brokers are regulated with one or more of these. Regulation is the first consideration traders should take into account before choosing a broker. There are important aspects to consider before choosing the best forex trading brokers in Namibia.

Many brokers appear very similar at first, but there are subtle differences, which make each broker uniquely suitable for a different type of trader.

Best forex brokers in Namibia list is very vital.

All of the following brokers are regulated and all of them offer demo accounts. These are the first prerequisites in narrowing the list down to the broker that is best for you.

Risk Warning: Trading Forex and CFD is Risky; Your Capital is at Risk.

 

Always remember that Forex trading is a risky business and you might win money or even lose all your money.

Top forex brokers in Namibia

ForexTime (FXTM) is a highly popular broker among Namibians as they are registered with our local FSCA regulator, so you can rest assured that your money is safe.

ForexTime is one of the best forex brokers in Namibia.

Also what’s great is that if you don’t have the usual $250 minimum deposit required by most brokers, FXTM has an account known as the cent account with a minimum deposit of only $5.

Cent Account – Minimum Deposit $5 (+/- R80), Spreads from 1.5
Standard Account – Minimum Deposit $100 (+/- R1,400), Spreads from 1.3

To wrap it up they pretty much have all the bells & whistles as any other broker on this list, including Copy Trader a feature that allows traders to automatically copy professional traders.

FXTM can truly be counted among the best forex brokers in Namibia.

Here are the features of FXTM at a glance:

Broker regulation

 

South Africa – FSCA

Mauritius – FSC

United Kingdom – FCA

Cyprus – CySEC

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

Metatrader 4 and

WebTrade

Mobile trading apps

Best forex brokers in Namibia should have a diverse platform choice.

Trading Instruments

 

Currency Pairs (Forex trading)

CFDs on Commodities

CFDs on Indices

Spot Metals

Share CFDs

Cryptocurrency CFDs

Stock Trading

Contract Specifications

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

FXTM Pivot Points Strategy

FXTM Trading Signals

FXTM Trader App

Currency Converter

MT4 Indicators

Forex VPS Trading

FXTM Invest Profit Calculator

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

Social Trading

 

Copy-trading (Copy trading involves copying trades of the best performing Forex traders without knowing how to trade and even doing any research – Let the experts do all the work for you). FXTM has a copy trading feature called FXTM Invest.

Market Analysis

 

Market Outlook

Economic calendar

Forex News Timeline

Market Analysis Videos

Market Analysis Team

Trading Accounts

 

Accoount Type Standard Account Cent Account Shares Account
       
Trading Platforms MT4 / MT5 MetaTrader 4 MetaTrader 4
Account Currency USD / EUR / GBP / NGN US Cent / EU Cent / GBP Pence / NGN kobo USD / EUR / GBP / NGN 
Leverage Floating from 1:12000 Fixed from 1:1000 – 1.25 (FX), 1:500 – 1:25 (Spot Metals) Fixed leverage 1:10 for US Shares and 1:3 for European Shares
Minimum Deposit 100 pounds 10 pounds 100 pounds
Commission 0 0 0
Spread From 1.3 From 1.5 From 0.1

 

Deposit Methods by one of the best forex brokers in Namibia

  • Bank Transfer
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Unionpay

AvaTrade is well into its second decade of operation, boasting adherence to the regulatory requirements of more than 6 global regions – from North America through Europe and South Africa to Asia, including the hard-to-crack Chinese market.

It is obviously one of the best forex brokers in Namibia.

Their track record as one of the best forex brokers in Namibia is one no other online broker can attest to; each AvaTrade review speaks for itself, thanks to a corporate vision that emphasizes client satisfaction and a constant effort to answer each new need as it arises.

 

Avatrade will always feature among the top forex brokers in Namibia. They are definitely one of the best forex brokers in Namibia.

 

Here are the features of Avatrade at a glance:

Broker regulation

 

South Africa – FSCA

Australia – ASIC

British Virgin Islands – B.V.I FSC

United Kingdom – FSA

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

Metatrader 4 and 5

WebTrader

Mobile trading

Mac Trading

Best forex brokers in Namibia should have a diverse platform choice.

Trading Instruments

 

Currency Pairs (Forex trading)

CFD trading (Commodities, ETF, Indices, Bonds and Treasury)

Cryptocurrency CFDs

Stock Trading

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Trading Calculator

AutoChartist (Automated technical analysis tool implemented on Metatrader 4 that identifies trading opportunities)

Avaprotect (Available on the mobile app to protect your money for a certain period once a position has been opened)

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

Social Trading

 

DupliTrade is an MT4 compatible platform, which allows traders to automatically follow experienced traders’ signals and strategies in real-time. Its user-friendly interface makes it easy to build and manage a trading portfolio while gaining valuable insights on successful trading strategies.

Market Analysis

 

Financial Instruments information

Economic calendar

Market Analysis information

Earnings releases

Trading Accounts

Accoount Type

Professional Account

Retail

 

 

 

Trading Platforms

MT4 / 5

MT4 / 5

Leverage

Max. 400:1

Max. 400:1

Minimum Deposit

100 USD

100 USD

Commission

0

0

Spread

1.3 pips

1.3 pips

Deposit Methods from one of the best forex brokers in Namibia

  • Bank Transfer
  • Visa
  • Mastercard
  • POLI
  • Skrill
  • Neteller
  • Paypal
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As your trusted Forex trading partner, ForexMart is highly committed to offering high-class trading software, giving exceptional trading experience, protecting your account against any fraudulent activity, and equipping you with comprehensive knowledge needed for successful trading.

Among the best forex trading brokers in Namibia, meet ForexMart.

They are definitely one of the best forex brokers in Namibia.

Broker regulation

 

Cyprus – CySEC

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

Metatrader 4

Best forex brokers in Namibia should have a diverse platform choice.

Trading Instruments

 

Currency Pairs (Forex trading)

CFD on Shares

Cryptocurrency CFDs

Spot Metals

Energy

Indices

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Economic calendar

VPS Hosting

Forex Calculator

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

Social Trading

 

Open a ForexMart account, verify it, and use a payment method you prefer to deposit your account. All personal data are stored and protected by using the latest encryption technology. Once inside the platform you may use the copy trading feature to copy the best traders’ forex strategies.

Market Analysis

 

Market Analysis information

Economic news

Trading Accounts

Accoount Type

Classic

Pro

Cents

Zero Spread

Scalping

 

 

 

 

 

 

Trading Platforms

MT4

MT4

MT4

MT4

MT4

Leverage

Max. 500:1

Max. 500:1

Max. 500:1

Max. 500:1

Max. 500:1

Minimum Deposit

15 pounds

1000 pounds

15 pounds

1 pound

100 pounds

Commission

0

0

0

0.02% – 0.07%

0

Spread

Min. 1 pips.

Average 1.2 pips

Min. 0.6 pips

Averge 0.8 pips

Min. 1 pips

Average 1.2 pips

Min. 0 pips (fixed)

 

Min. 0 pips

Average 1.2 pips

Deposit Methods from one of the best forex brokers in Namibia

  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Sofort

How can we compile a list of the best forex brokers in Namibia, without IQ Option?

IQ Option is one of the fastest growing online trading brands in the world. Voted the best mobile trading platform, they have now expanded their offerings to include CFDs on stocks and ETFs, Forex trading, and the exclusive IQOption product called Digital Options.

First founded in 2013, IQ Option has grown massively, and now has over 40 million members and counting! The platform itself has also undergone some changes since 2013, and they are constantly working to ensure it is fast, accurate and easy to use.

Although they do not have the Metatrader feature, IQ Options is also one of the best forex brokers in Namibia.

Broker regulation

 

Cyprus – CySEC

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

IQ Options platform – An advanced trading platform for Desktop Windows, Mac Operating system, Mobile app, and the web interface.

Best forex brokers in Namibia should have a diverse platform choice.

Trading Instruments

 

Currency Pairs (Forex trading)

Stocks

Cryptocurrency CFDs

Options

ETFs

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Economic calendars

Historical Quotes

Trading Signals

Islamic Account

Tournaments

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

Social Trading

 

None. It does not have its own copy-trading feature.

Market Analysis

 

News feed

Industries resources

Trading Accounts

Account Type

Live Account

 

 

Trading Platforms

IQ Option Custom-made

Leverage

Max. 1000:1

Minimum Deposit

5 USD

Commission

0

Spread

Min. 1.1 pips

 

Deposit Methods from one of the best forex brokers in Namibia

  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • WebMoney WMZ
  • AstroPay
  • Advcash
  • Perfect Money
Best forex brokers in Namibia 2020 2

As a strong proponent of transparency, FxPro establish the highest standards of safety for our clients’ funds. For this reason, client funds are kept in major international banks and are fully segregated from the company’s own funds.

Ever since their establishment, FxPro has successfully expanded to serve retail and institutional clients in more than 170 countries – and are still growing. That is why FxPro is on of the best forex brokers in Namibia.

Broker regulation

 

Cyprus – CySEC

United Kingdom – FCA

South Africa – FSCA

FxPro Global Markets Limited is authorised and regulated by the Securities Commission of The Bahamas

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

Metatrader 4 (MT4)

Metatrader 5 (MT5)

cTrader

Best forex brokers in Namibia should have a diverse platform choice.

Trading Instruments

 

Currency Pairs (Forex trading)

Futures

Indices

Shares

Metals

Energies

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Economic calendars

Forex tools

Economic News

Calculators

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

Social Trading

 

None. It does not have its own copy-trading feature.

Market Analysis

 

News feed

Industries resources

Trading Accounts

 

FxPro has always been a keen supporter of transparency and fairness in the Forex industry, and it has made every effort to hard to eradicate conflicts of interest between broker and client.

According to FxPro CEO, Charalambos Psimolophitis, “We provide our clients with not only superior educational resources and trading tools but also with a guarantee of their funds’ safety.

In an industry where it is taken for granted that slippage almost always goes against the client, we are pleased to demonstrate that this is not in fact the case.”

FxPro is committed to providing its clients with full trade reporting and support. In this regard, it posts its monthly slippage statistics right on the website.

Traders can choose between instant execution and market execution a feature not made available by many other Forex brokers. They also offer advanced order-matching and execution technologies that are continuously upgraded.

Deposit Methods from one of the best forex brokers in Namibia

  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • UnionPay
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FBS is an international broker with more than 190 countries of presence. 14 000 000 traders and 370 000 partners have already chosen FBS as their preferred Forex company.

To provide the best customer experience FBS organizes seminars and special events, providing its clients with training materials, cutting-edge trading technologies and the latest strategies on the Forex market. Both newbie and professional traders will find these sessions useful.

Without a doubt, FBS is one of the best forex brokers in Namibia.

 

Broker regulation

 

Belize – IFSC

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

FBS Trader

Metatrader 4

Metatrader 5

Best forex brokers in Namibia should have a diverse platform choice.

Trading Instruments

 

Currency Pairs (Forex trading)

Metals

CFD

Stocks

Forex Exotic

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Economic calendars

Traders’ calculator

Risk Management tools

Alerts

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

 

Social Trading

 

FBS Copy Platform for both investors and traders

Market Analysis

 

Company news

Forex News

Daily Market Analysis

Trading Accounts

Accoount Type

Standard Account

Cent Account

Micro Account

Zero Spread

ECN Account

 

 

 

 

 

 

Trading Platforms

MT4, MT5 and FBS Trader

MT4, MT5 and FBS Trader

MT4, MT5 and FBS Trader

MT4, MT5 and FBS Trader

MT4, MT5 and FBS Trader

Account Currency

USD 

USD

USD

USD

USD

Leverage

Up to 1:3000

Up to 1:1000

Up to 1:3000

Up to 1:3000

Up to 1:500

Minimum Deposit

100 USD

1 USD

5 USD

500 USD

1000 USD

Commission

0

0

0

0

0

Spread

From 0.5 pips

From 1 pip

From 3 pips

0 pip

From 1 pip

Deposit Methods from one of the best forex brokers in Namibia

  • Visa
  • Neteller
  • Sticpay
  • Skrill
  • Perfect Money
  • Bitwallet
  • Local exchangers
Best forex brokers in Namibia 2020 3

7. AxiTrader

AxiTrader was founded in 2007 on a simple idea: be the broker we’d want to trade with. Since then, we’ve grown from a two-person startup into a global business servicing tens of thousands of traders in more than 100 countries.

AxiTrader can be counted among the best forex brokers in Namibia.

Broker regulation

 

The United Kingdom – FCA

Australia – ASIC

Dubai – DFSA

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

Metatrader 4 Webtrader

Metatrader 4

AxiOne

Best forex brokers in Namibia should have a diverse platform choice.

 

Trading Instruments

 

Currency Pairs (Forex trading)

Indices

CFD

Commodities

Oil

Gold and Silver

Crypto

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Signal Providers

MT4 VPS Hosting

AutoChartist

Economic calendar

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

 

Social Trading

 

PsQuation is a social trading feature used by FBS; were traders can follow leading strategies.

Market Analysis

 

Company news

Forex News

Daily Market Analysis

Trading Accounts

STANDARD ACCOUNT PRO ACCOUNT
Setup cost Free Free
Spreads From 0.4 pips From 0.0 pips
Commission None $7 round trip (USD)
Minimum Trade Size 0.01 lots 0.01 lots
Minimum deposit $0 $0
Products 140+ FX pairs, Metals CFDs 140+ FX pairs, Metals CFDs
Pricing 5 digit pricing 5 digit pricing
Mobile trading Yes Yes
MT4 NextGen Yes Yes
Margin/Leverage Up to 500:1 Up to 500:1
Base account currencies AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
Demo period 30 days 30 days
EA compatibility Yes Yes
VPS Free** Free**
Autochartist Free Free
myfxbook Autotrade Free Free
PsyQuation Free Free
PsyQuation Premium Free Free

Deposit Methods from one of the best forex brokers in Namibia

  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Bank Transfer
  • BPay
  • China Union Pay
  • WeChat
  • Bank Wire
  • POLI
Best forex brokers in Namibia 2020 4

With over 2,500,000 clients since it was founded in 2009, XM has grown to a large and well established international investment firm and has become a true industry leader.

XM is currently built of more than 450 professionals with long-year experience in the financial industry.

Their extensive experience combined with support for well over 30 languages, makes XM the broker of choice for traders of all levels, anywhere.

XM Broker is among the best forex brokers in Namibia.

Broker regulation

 

Cyprus – CySEC

United Kingdom – FCA

Australia – ASIC

Italy – IFSC

Best forex brokers in Namibia should be regulated.

Trading Platforms

 

Metatrader 4 Webtrader

Metatrader 4

Metatrader 5 Webtrader

Metatrader 5

Mobile Apps

Best forex brokers in Namibia should have a diverse platform choice.

 

Trading Instruments

 

Currency Pairs (Forex trading)

Stocks

Commodities

Equity Indices

Precious Metals

Energies

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Forex Calculator

Technical Indicators

MQL 5

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

 

Social Trading

 

XM Mirror Trade is a social trading feature used by XM; where traders can follow leading strategies or traders.

Market Analysis

 

Markets News

Forex News

Technical Summaries

Trade-Ideas

Economic Calendar

Trading Accounts

 

Accoount Type

Micro

Standard

Ultra Low

Shares

 

 

 

 

 

Trading Platforms

MT4 / 5

MT4 / 5

MT4 / 5

MT4 / 5

Leverage

1:1 to 1:888 ($5 – $20,000)
1:1 to 1:200 ($20,001 – $100,000)
1:1 to 1:100 ($100,001 +)

1:1 to 1:888 ($5 – $20,000)
1:1 to 1:200 ($20,001 – $100,000)
1:1 to 1:100 ($100,001 +)

1:1 to 1:888 ($5 – $20,000)
1:1 to 1:200 ($20,001 – $100,000)
1:1 to 1:100 ($100,001 +)

No leverage

Minimum Deposit

5 USD

5 USD

50 USD

10,000 USD

Commission

0

0

0

YES

Spread

As Low as 1 Pip

As Low as 1 Pip

As Low as 0.6 Pip

As per the underlying exchange

Deposit Methods from one of the best forex brokers in Namibia

  • Bank Transfer
  • Sofort Banking
  • Visa
  • Mastercard
  • Maestro
  • Skrill
  • Neteller
  • Bitcoin
  • Unionpay
Best forex brokers in Namibia 2020 5

FXGiants is an international online trading broker, giving access to retail and institutional investors, to over 200 tradable instruments from 6 asset classes.

The company operates successfully around the globe and places great emphasis on providing professional and reliable services to all our clients.

FXGiants is committed to provide the highest standard of services with full transparency to clients and become a one-stop destination for online trading.

FXGiants are among the best forex brokers in Namibia.

Broker regulation

 

United Kingdom – FCA

Best forex brokers in Namibia should be regulated.

 

Trading Platforms

 

Metatrader 4 for PC

Metatrader 4 for Mac

Metatrader 4 for Multi-terminal

Mobile Apps

Best forex brokers in Namibia should have a diverse platform choice.

Trading Instruments

 

Currency Pairs (Forex trading)

Metal

Indices and Commodities

Futures

Shares

Cryptocurrency

Best forex brokers in Namibia should have multiple instruments.

Trading Tools

 

Technical Indicators

Best forex brokers in Namibia should have useful trading tools to assist you while trading.

 

Social Trading

 

AutoTrade by Myfxbook is the latest in social trading software.

 
It allows less experienced traders to copy the trades experienced traders you select into your FXGiants MetaTrader 4 account.

Market Analysis

 

Forex News

Live Currency Rates

Signals

Trading Accounts

Account Type Micro Account Premium 0 Fixed Spread STP/ECN No commission
         
Trading Platforms MT4 for PC and Mobile apps MT4 for PC and Mobile apps MT4 for PC and Mobile apps MT4 for PC and Mobile apps
Account Currency USD, EUR, GBP, JPY, CZK USD, EUR, GBP, JPY, CZK USD, EUR, GBP USD, EUR, JPY, CZK
Leverage 1:1 up to 1:1000 1:1 up to 1:1000 1:1 up to 1:500 1:1 up to 1:200 depending on the deposit
Minimum Deposit 100 USD 1000 USD 500 USD 200 USD
Commission 0 0 18 USD per lot 0
Spread

As low as

1.1

As low as

0.7

Not Disclosed

Not Disclosed

 

 

Trading Accounts (continued)

Account Type

Absolute Zero STP/ECN

STP/ECN 0 Spread

Absolute Zero Plus STP/ECN

 

 

 

 

Trading Platforms

MT4 for PC and Mobile apps

MT4 for PC and Mobile apps

MT4 for PC and Mobile apps

Account Currency

USD, EUR

USD, EUR, GBP, JPY, CZK

USD, EUR

Leverage

1:200

1:1 up to 1:200

1:200

Minimum Deposit

Not specified

500 USD

Not disclosed

Commission

0

7.5 USD per lot

Up to 10 USD IB Commission

Spread

Not disclosed

Not disclosed

EUR/USD as low as: 0

Deposit Methods from one of the best forex brokers in Namibia

 

  • Visa
  • Mastercard
  • Bank Wire
  • Skrill
  • Neteller
  • Dotpay
  • Unionpay

Factors In Choosing a Forex Broker – best forex brokers in Namibia

 

  • Regulation is a critical factor when choosing a broker. A regulated broker can be given the benefit of a doubt that all is well.
  • Account Types are very vital; see if a demo account is available. This will assist you during training.
  • Trading Platform is also very important; remember you need to trade on a user-friendly platform that you can understand.
  • Choose what Broker Type you want. Some brokers offer commission-free trading and are known as dealing desk brokers or market maker brokers. Some brokers charge commission but have tighter spreads, these are known as non-dealing desk brokers or direct market access brokers.
  • Always check for additional Broker Fees that may be charged. We always highlight these in our reviews, but common ones are deposit and withdrawal fees and currency conversion fees.
  • Find a broker with the Trading Conditions that will support your trading strategy. Think about how much Leverage you want to have available; keeping it low (100:1 or less) is a good idea if you are still learning how to trade. You might increase the leverage as you become comfortable with forex trading.

Want to learn how to trade forex for free – Click Here.

 

Forex Broker FAQ – best forex brokers in Namibia

What exactly is a Forex Broker?

 

A Forex broker is an intermediary between traders and the world’s currency markets. They do this by providing a platform and capital.

A trading platform provides traders with access to the interbank market. The interbank market is a collection of technology platforms used by banks to trade with one another. The broker platform provides traders with live prices, the ability to execute trades, and tools like charts.

Most traders use leverage to trade, and brokers provide leverage by effectively lending capital to their clients.

 

What is Leverage?

 

Leverage, also known as gearing, allows traders to take positions using capital borrowed from a bank. The trader’s margin account is used as collateral against the loan, and any losses are subtracted from the margin account.

There is more than one way to trade with leverage. A margined trading account gives traders access to leverage as mentioned above. Derivatives also give clients access to increased buying power. When a trader buys a CFD, future, option, or spread position, they must pay margin to enter the trade. In this case, the margin is like a deposit against which any losses are offset.

Forex brokers offer leverage of anywhere from 50 to 1,000 times a trader’s margin, though this usually depends on the account size, trade size and volatility of the currencies being traded.

 

What is a Pip?

 

For most currency pairs, a pip is the smallest change that can take place in the rate. It will usually be the fourth number after the decimal. If a currency rate is quoted at 1.1515 and it moves to 1.1516, then the rate has increased by one pip.

Some pairs are quoted to five decimal places, in which case the pips are measured in decimals. If the

EURUSD pair is quoted at 1.17895 and it moves to 1.17898, then it has increased by 0.3 pips.

 

What is the Spread?

 

The spread is the difference between the buy and sell price. So, if the EURUSD pair is quoted at 1.17485 to 1.17489, the spread is 0.4 pips.

In the above example, a trader would buy at 1.17489, which is the offer (or ask) price. If the trader wanted to sell, they would sell at 1.17485, which is the bid price.

 

Need to learn more about Forex trading for free – Click here for our free courses.

 

How do Forex Brokers make money?

 

Brokers either charge commission, or add their fee to the spread. Sometimes they do both.

The commission is calculated as a percentage of the value of the trade. The commission is deducted from a trader’s margin account.

If a broker makes money on the spread, they will quote a wider spread than the spread available in the interbank market. So, if the EURUSD pair is quoted at 1.17480 – 1.17485 in the interbank market, they might quote the rate at 1.17470 – 1.17495. If a client bought at the broker’s offer price, the broker would buy at the lower price in the interbank market, giving them a 1 pip profit.

 

Why do Forex Brokers need to be regulated?

 

Forex brokers need to be regulated for two reasons: risk and fraud.

Most traders use leverage. Most brokers have thousands of clients, and all the positions a broker’s clients hold can add up to significant exposure. If a broker does not manage its own risk properly, it can be wiped out if market volatility increases. This would mean the broker’s client accounts can also be wiped out. It also poses a systemic risk to the market. Regulations force brokers to take adequate measures to ensure they do not put client accounts at risk.

Brokers are also regulated to prevent fraud. Client accounts and the broker’s working capital need to be separated. If client money is used to run the business, this amounts to fraud. Regulatory oversight is needed to make sure this does not happen.

Why compile a list of the best forex brokers in Namibia?

 

To avoid Namibians falling for unscrupulous forex brokers that scam people of their hard-earned cash.

 

Are the above top forex brokers in Namibia legit?

Most definitely. We only compile a list of regulated forex brokers that have been tried and tested for years.

 

The best forex brokers in Namibia are listed above, try them out.

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50 Pips A Day

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Forex Academy – The Ultimate Price Action

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Forex Masters Course 2020 – Follow Price Action Trends

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Forex Trading School – Best Day Trading Forex

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Free Forex Training – The Ultimate Basics

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Master in forex trading – 15 minutes a day

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